Intelligent planning and technical proficiency are required as each e-commerce bookkeeping solution must be custom-designed for the specific needs of each business configuration.
E-commerce businesses often need custom-designed accounting solutions to keep up with their numbers and figures. E-commerce businesses in Toronto can our e-commerce bookkeeping services to benefit from an organized e-commerce bookkeeping system that’ll help their business grow.
Find out which tax returns you need to file for your e-commerce business and which expenses can be counted as tax deductibles including Amazon fees, shipping, travel expenses, and more. Don’t pay more in taxes than you need to with our accounting services for e-commerce businesses in Toronto.
Tax Issues for E-Commerce Businesses
Should I Incorporate My Business? Ask us.
Tax Reporting for E-Commerce Businesses
If your corporation earns income from one or more webpages or websites, you are required to file Schedule 88, Internet Business Activities
Business Deductions for E-Commerce Businesses
Tax deductible expenses include:
- Amazon and Merchant fees
- Inventory
- Shipping expenses
- Home office and office expenses
- Travel expenses
- Make travel deductible in a legal way
- Marketing/branding, e.g. to develop your brand logo when selling your own brand
- Sponsored ads
- Accounting
Provincial Sales Tax and QST for E-Commerce Businesses
Your business may be required to register, file and pay for provincial PSTs and the QST. Ask us.
